Oil is finally gaining again.
Saudi Arabia has agreed to cut its August exports to 6.6 million barrels a day, which is one million less than this time last year.
That’s a pretty big chunk out of their exports, but they’re desperate for oil to rise over $50 again, so the oil titan is taking a hit for the team.
The U.S. rig count also dropped on Friday, a sign that U.S. drillers might be looking to cut back on production as well, which will cause prices to swing even higher.
The U.S. and OPEC are hoping that they’ll be able to make better profits off the higher prices…
But neither of them will be rejoicing as much as our neighbor to the south…
You might not think much of Mexico when it comes to oil. After all, they had a ban in place for years that didn’t allow outside drillers…
That’s no longer the case.
And now there are five billion barrels of oil underground… There for the taking.
The Bakken oil fields have made some producers rich beyond their wildest dreams. But not too long ago, the Bakken was a throwaway field…. One the rest of the oil community was ignoring.
Now over a billion barrels of oil have been recovered there.
The field I’ve recently discovered could be even more profitable than the Bakken.
And with oil prices on the rise, now is the perfect time to get in on the action.
You can read more here.
All the best,